Sax Wealth Advisors LLC Purchases Shares of 2,839 Citigroup Inc. $C

Key Points

• Sax Wealth Advisors LLC purchased approximately $242,000 worth of Citigroup Inc. shares, totaling 2,839 shares during the 2nd quarter.
• Several large investors, including BankPlus Trust Department and Venturi Wealth Management LLC, have increased their holdings in Citigroup significantly, indicating strong institutional interest.
• Citigroup reported a quarterly EPS of $1.96, surpassing estimates, and raised its quarterly dividend from $0.56 to $0.60 per share, reflecting financial growth.

Sax Wealth Advisors LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,839 shares of the company's stock, valued at approximately $242,000.

Several other large investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its holdings in Citigroup by 20.8% in the 2nd quarter. Venturi Wealth Management LLC now owns 15,403 shares of the company's stock valued at $1,311,000 after acquiring an additional 2,655 shares during the period. BankPlus Trust Department increased its holdings in shares of Citigroup by 657.1% during the second quarter. BankPlus Trust Department now owns 6,776 shares of the company's stock worth $577,000 after purchasing an additional 5,881 shares during the period. Joel Isaacson & Co. LLC increased its holdings in shares of Citigroup by 7.7% during the second quarter. Joel Isaacson & Co. LLC now owns 5,947 shares of the company's stock worth $506,000 after purchasing an additional 426 shares during the period. Tyche Wealth Partners LLC increased its holdings in shares of Citigroup by 33.4% during the second quarter. Tyche Wealth Partners LLC now owns 7,947 shares of the company's stock worth $676,000 after purchasing an additional 1,989 shares during the period. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of Citigroup by 3.3% during the second quarter. KLP Kapitalforvaltning AS now owns 894,941 shares of the company's stock worth $76,177,000 after purchasing an additional 28,400 shares during the period. 71.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

NYSE C opened at $95.85 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $176.45 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.84 and a beta of 1.37. The firm's 50 day simple moving average is $96.96 and its 200 day simple moving average is $83.58. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the business posted $1.52 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 35.45%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a report on Wednesday. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. UBS Group reaffirmed a "neutral" rating and set a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Oppenheimer lowered their target price on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. Finally, Dbs Bank cut shares of Citigroup from a "moderate buy" rating to a "hold" rating in a report on Monday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.68.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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